639 W Oakland Park Blvd Unit 207d

Oakland Park, FL 33311

$143,900D

1 bd · 1.0 ba · 685 sqft · Built 1969 · Condo · Active · 83 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,910/mo
• Mortgage (P&I): −$755
• Tax + insurance: −$326
• HOA: −$506
• Vac / Maint / Mgmt: −$401
• Net cashflow: $-77/mo
• Annual: $-929/yr
• Cap rate: 5.65%
• Cash-on-cash: -2.31%
• DSCR: 0.90
• 1% rule: 1.33%
• Cash to close: $40,292

Investor read

• This is a 1-bed/1.0-bath condo listed at $144k.
• At list price, monthly cash flow is $-77 ($-929/yr) — negative.
• To cash-flow at today's rent, offer at most $130k (9.5% below list).
• Meets the 1% rule at list price ($2k rent vs $144k).
• It's been on market 83 days — a 6% lower offer ($135k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $130k (9.5% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $995 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 77/100 on livability (#193 in FL, #3,082 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A+; Watch: amenities F.
• Broward (suburban): math 42% / reading 53% proficiency, ranked #46 of 73 in FL (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Lloyd Estates Elementary School (math 26% / reading 32%, grade F, #1,932 of 2,144 statewide, top 91%, 444 students, 79% FRL); James S. Rickards Middle School (math 18% / reading 31%, grade F, #522 of 571 statewide, top 93%, 755 students, 75% FRL); Northeast High School (math 12% / reading 37%, grade F, #505 of 667 statewide, top 79%, 1,552 students, 69% FRL) — zoned schools average 74% FRL vs 51% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 26% at this address vs 48% district-wide (-22 pts) — the specific schools serving this property underperform the Broward average; the district grade overstates school quality for this exact location.
• Watch-outs: HOA is 26% of rent.
• Market conditions: Rents rising (+2.8%/yr); 590 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 2,111 units permitted in Broward County in 2024 (1,265 in 5+ unit buildings).
• Broward County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $60k; list at $144k implies a 140% gain — meaningful room to come down on a strong offer.
• Cap rate 5.6% vs local median 3.8% in Oakland Park — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.
• This rent runs 42% of the median local income ($54k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 83 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
• Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?